Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
In a market that is selling for 4% above list price on the average, how important is pricing your home? With such low inventory and high demand, does list price matter? In a word: YES. There is a 5.7% difference in the average closed to list price of homes from their first to their fifth […]
The absorption rate – abs rate – is a measure of inventory. How long will it take to “absorb” the current inventory? Below is a chart that displays as a function of comparing the closed and active listings the abs rates of the top 10 subareas by volume of sales over the last 30 days. […]
The R2 for the M2 money supply to median pricing .89. What does that mean? There is a high level of correlation between these data points. More so than interest rates, active number of homes, number of new listings. If you want to see where home prices are going, watch the M2.
If you are looking for a home in the Colorado Springs area, be prepared. The average home in the 400,000 – 450,000 is closing 4.59% above list price to the tune of an average of $19,492.
Banning Lewis Ranch (BLR) has overtaken Pueblo West YTD in volume of sales. The average price YTD in BLR is $550,712. The median is $550K.
Three days and sixty one additional sales, the average closed price over list is up almost $900 to nearly $17K. Cash sales down 2% this week. Why does this information matter? It helps agents, lenders, investors, sellers and buyers know what to expect in our market.
The CPLP ratio is my favorite measure. It is the closed to list price ratio, the measure of how much above or below people are paying for homes. Here are the Colorado Springs region closed to list price ratios since 2019. As you can see, we hit a three year high of nearly 6% above […]
Here are the top 10 regional subareas year to date by volume of sales. Banning Lewis Ranch gains on Pueblo West, Meridian Ranch not out of the running yet. Why is this important? To me, for me and my clients, it’s about knowing the market, what to expect, where to expect it. Eg., if you […]
Week to date we are at an average of 3.9% over list price. What does this mean? Homes are selling for an average of almost 4% over their asking price. Why does this matter? It helps buyers and sellers know what to expect when making offers or listing their homes.
Here are the “vital stats” of the market in the 400K-500K price range. What you are seeing here is the last 14 months of data on our market in this bracket to include the per month number of sales, percent of cash sales of those sales, the average closed to list price ratio, average price, […]